- Four individuals have been arrested over a $5.36 million crypto fraud and murder.
- The crypto fraud happened in 2017 in which people were tricked to purchase ethers.
- Prior to the latest ambush, the Indian police have arrested 7 people related to the case.
The Indian police have arrested four individuals who are allegedly associated with a cryptocurrency scam dating from 2017.
According to an article by The Times of India, these people were identified as Nishid Wasnik and his wife Pragati, alongside their aides Gajanan Mungune and Sandesh Lanjewar. These people were connected to a company named Ether Trade Asia.
Wasnik was accused of having operated the said company, which routed potential investors from purchasing Ethereum from ZebPay. The scheme proved dangerous; in fact, the accused were able to nab up to 400 million INR (around $5.36 million).
Aside from scamming people, Wasnik and his associates now face murder charges. Specifically, the police said that they were alleged to have kidnapped and murdered one of their close aides named Madhav Pawar. This was due to disputes over Pawar not giving away the password of important transactions.
As for the crypto scam, the article explained that Wasnik and his partners organized a lavish event at a hotel and invited would-be investors. During the event, they would make outlandish promises about crypto investments yielding huge profits. Unsuspecting victims would then purchase Ethereum from ZebPay and transfer the asset to Ether Trade Asia using a crypto wallet.
Prior to the arrest of Wasnik, the Indian police ambushed seven individuals who are also linked to the case.
Recommended News :
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
